Commentary

In this second part of our exclusive Cannabis Corner series, CERESLabs Barot delves into the beginnings of the cannabis market in the US, then onto its criminalization and to the present where its rapidly becoming legal.

Objections to Liquidity Quote

Story Utilities

The NYSE's planned Liquidity Quote should be revised, Bloomberg officials wrote in a comment letter to the Securities and Exchange Commission.

Liquidity Quote is a service that will display quotes of substantial size for institutions, but Bloomberg officials object that it amounts to a backdoor rules change.

Limit Access

"We believe the vendor and subscriber contracts governing the NYSE's OpenBook and, by extension, those proposed to govern its liquidity quotations," Bloomberg wrote, "are themselves rules changes in that they limit access to facilities of the exchange and have a significant regulatory impact on vendors and subscribers - an impact just as significant as if the contractual obligations were formally denominated rules of the NYSE."

The service would extend the "harmful effects" of the NYSE vendor and subscriber contracts the commission criticized when it approved the OpenBook fees, according to the letter. Bloomberg also wants the Big Board application amended. The NYSE was preparing to publish its proposal in the Federal Register when Bloomberg blasted the outlines of the plan.